How to Take Ownership of an Inherited California Timeshares
Are you named in a Will to receive a timeshare in California or the next of kin of a deceased timeshare owner?
Do you need to change ownership to you so you can use the timeshare?
California law has a shortcut, or expedited probate procedure for timeshares known as “Affidavit Real Property of Small Value.”
Do you qualify?
Is the gross value of all real property located in California less than $50,000? (Real property held in joint tenancy or owned by a trust is not included in the $50,000 limitation.
Have six months passed?
Have all debts, funeral expenses and medical bills been paid?
If all the above answers are yes, you can use this shortcut. But paperwork is still required.
Prepare “Affidavit Real Property of Small Value” for the Probate Court
Obtain appraisal from probate referee
Prepare “Inventory and Appraisal” report
Prepare transfer deed
File “Affidavit Real Property of Small Value” and supporting documents with Clerk of the Court
File affidavit and deed with County Recorder
Send recorded affidavit and deed to client for proof of ownership
For more information or to begin the process, call 714-846-2888 or email Mark@DeedAndRecord.com.
To find out more about Mark W. Bidwell, Attorney at Law.
What to do when a beneficiary or next-of-kin inherits a timeshare in California.
Tip sheet by explains how to transfer ownership to access the timeshare using "Affidavit Real Property of Small Value."
Probate Shortcut for California Timeshares
California law provides a probate alternative to inherit a timeshare known as an “Affidavit Real Property of Small Value” (the “Affidavit”). Timeshares are frequently overlooked in funding trusts. The Affidavit is a good tool for the Successor Trustee to transfer the timeshare to the beneficiaries of the trust. Heirs who require ancillary probate for a timeshare in California can use the Affidavit.
The Affidavit procedure has two steps. The first step is to obtain authorization from the Superior Court of California for the transfer. The Affidavit is filed with the Court. Attached to the Affidavit is an “Inventory and Appraisal.” The Inventory and Appraisal is completed by a “Probate Referee” who determines the fair market value of the timeshare. The fair market of the vast majority of timeshares in California is less than $50,000 thus allowing for use of the Affidavit procedure.
The second step is to record the Affidavit and a deed with the County Recorder where the timeshare is located. The deed transfers ownership of the timeshare from the decedent’s estate to the heir. Copies of the recorded affidavit and deed are provided to the resort company to update their records and to allow the heir access to the timeshare.
The Affidavit is available as alternative to formal probate only when the decedent directly owned real property in California with a fair market value less than $50,000. Real property owned by a trust or real property held in joint tenancy with a surviving joint tenant owner is not included in the $50,000 ceiling. The fair market of the vast majority of timeshares in California is less than $50,000 which allows for use of the Affidavit procedure.
Below is the California Code authorizing the transfer of timeshares by affidavit and the conditions that must be met.
"California Probate Code Section 13200. (a) No sooner than six months from the death of a decedent, a person or persons claiming as successor of the decedent to a particular item of property that is real property may file in the superior court in the county in which the decedent was domiciled at the time of death, or if the decedent was not domiciled in this state at the time of death, then in any county in which real property of the decedent is located, an affidavit in the form prescribed by the Judicial Council pursuant to Section 1001 stating all of the following:
(1) The name of the decedent.
(2) The date and place of the decedent's death.
(3) A legal description of the real property and the interest of
the decedent therein.
(4) The name and address of each person serving as guardian or conservator of the estate of the decedent at the time of the decedent' s death, so far as known to the affiant.
(5) "The gross value of all real property in the decedent's estate located in California, as shown by the inventory and appraisal attached to this affidavit, excluding the real property described in Section 13050 of the California Probate Code, does not exceed fifty thousand dollars ($50,000)."
(6) "At least six months have elapsed since the death of the decedent as shown in a certified copy of decedent's death certificate attached to this affidavit."
(7) Either of the following, as appropriate:
(A) "No proceeding is now being or has been conducted in California for administration of the decedent's estate."
(B) "The decedent's personal representative has consented in writing to use of the procedure provided by this chapter."
(8) "Funeral expenses, expenses of last illness, and all unsecured debts of the decedent have been paid."
(9) "The affiant is the successor of the decedent (as defined in Section 13006 of the Probate Code) and to the decedent's interest in the described property, and no other person has a superior right to the interest of the decedent in the described property."
(10) "The affiant declares under penalty of perjury under the law of the State of California that the foregoing is true and correct."
(b) For each person executing the affidavit, the affidavit shall contain a notary public's certificate of acknowledgment identifying the person.
(c) There shall be attached to the affidavit an inventory and appraisal of the decedent's real property in this state, excluding the real property described in Section 13050. The inventory and appraisal of the real property shall be made as provided in Part 3 (commencing with Section 8800) of Division 7. The appraisal shall be made by a probate referee selected by the affiant from those probate referees appointed by the Controller under Section 400 to appraise property in the county where the real property is located. (
(d) If the affiant claims under the decedent's will and no estate proceeding is pending or has been conducted in California, a copy of the will shall be attached to the affidavit.
(e) A certified copy of the decedent's death certificate shall be attached to the affidavit. If the decedent's personal representative has consented to the use of the procedure provided by this chapter, a copy of the consent and of the personal representative's letters shall be attached to the affidavit.
(f) The affiant shall mail a copy of the affidavit and attachments to any person identified in paragraph (4) of subdivision (a).
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Questions? E-mail to Mark@DeedAndRecord.com or call 714-846-2888